Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Buy | Buy |
RSI (14) | Buy | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Buy |
Alligator (13; 8; 5) | Sell | Neutral | Buy |
SAR (0.02; 0.2) | Buy | Sell | Buy |
Aggregate | ⇒ | ⇒ | ⇑ |
The previous review of the GBP/AUD currency pair concentrated on the breakout of the pair to the downside from a triangle pattern. In general, the decline has continued. Moreover, the pair is set to extend the downfall.
It has been noticed recently that the decline has occurred in a channel down pattern. The patterns is very narrow and has a strongly confirmed support line. However, the upper trend line has been touched only a couple of times on smaller timeframe charts.
In the near future it can be expected that the pattern's resistance will be tested near the 1.7450 mark. Afterwards a bounce off should occur and the rate would decline to a dominant support line just above the 1.73 level.